League Island Community Building & Loan Ass'n v. Doyle

Opinion by

Mr. Justice Maxey,

On November 10, 1926, Albert Carapellotti made application to the League Island Community Building & Loan Association for a loan of $4,000, to be secured by a second mortgage on premises already subject to a first mortgage of $6,000. At that time defendant was the association’s solicitor and it was at his suggestion that Carapellotti applied for the loan. One week later a resolution approving the loan was passed. The association then discovered that the assessed valuation of the property was not as high as represented in the application. This was brought to the…